Future Market Insights (FMI), a multinational market intelligence firm, in its recently released report on the global fiber lasers market gives a comprehensive analysis of the future demand scenario of fiber lasers along with insights into the key dynamics shaping the growth trajectory, overcast period of 2019-2028.
Given the progressive developments made by fiber lasers, in terms of spectral coverage, output power, and ultrashort pulse width, the application of fiber lasers has extended in a host of high-power and low-power end-use markets including healthcare, defense and security, and research and development. In addition, with new advancements in fiber lasers such as the quasi continuous wave (QCW) fiber lasers, the demand fiber laser is projected to grow at a promising rate of 8.8 percent, annually through 2019. Nearly 68,400 sq. meters of fiber lasers are expected to be sold in 2019, equaling a market value of approximately US$ 2.4 Billion, as per the market analysis.
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According to a senior analyst at FMI, “Superior advantages of fiber lasers over conventional lasers including higher performance, low cost, ease of use, compact size, and choice of wavelengths and precise control of beam will further push the sales of fiber lasers in the coming years. In addition, the on-going demand for fiber laser is also driven by high process speeds, when working with thicker sheets of certain materials.”
Over the last decade, the overall fiber laser landscape had witnessed a range of new devices, with exception beam quality, output power, and overall efficiency and flexibility in terms of radiation arrangements and operating wavelength. Such developments can largely be attributed to fiber laser’s geometry which offers notable flexibility to the effects of heat generation in the core, thereby translating into high-brightness laser output”, the analyst explains further..
Swelling demand in the aerospace and automotive industries to address manufacturing challenges, considering the product’s superior beam quality for various material processing applications, will drive up the sales of fiber lasers.
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Moreover, energy efficient processes with minimized material and operational costs remains a key advantage of fiber lasers over conventional laser welding. For the aerospace industry, technical advancements in fiber lasers has opened doors for application in 3D printers for material deposition.
Fiber laser welding technology is likely to foster an environment for lower cost and higher reliability batteries—used in the new-age electric vehicles. While automotive and aerospace industries will remain the two prominent large-scale end-users of fiber laser, FMI foresees substantial demand in medical applications, including urology.
Key Trends Identified:
- Companies have been successful in reducing the cost of manufacturing with fiber lasers. Use of high-strength steel in automotive manufacturing and decreasing the weight of vehicles are driving the use of fiber lasers over other manufacturing methods such as stamping, non-laser welding, riveting and adhesives.
- Miniaturization of electronics and parts is projected to contribute to the increasing sales of fiber lasers.
- Prominent companies continue to expand sales of specialized laser-based systems to meet the specific needs of manufacturing end users.
- Newer generations of fiber lasers are now being equipped with additional sensors, allowing more advanced functions to be performed.
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Segmental Insights at a Glance
FMI’s in-depth analysis of the global fiber laser market offers key insight on the various market segments, including key regional pockets, laser type, output power, and application.
- In terms of laser type, Continuous Wave (CW) fiber laser is estimated to account for approximately 76.4 percent revenue share, through 2019, given its ability to work with reflective metals. The largest share is contributed by China region in CW fiber lasers market.
- On the basis of output power, use of high power (More than 2000 W) fiber laser will increase in the coming years.
- Welding and other high power applications will display maximum adoption of fiber laser, through the forecast period.
- Regionally, China will remain the most lucrative market for fiber lasers manufacturers, given the expanding manufacturing capabilities of the region.
The global fiber laser market showcases a consolidated market structure, with top 5-6 key manufacturers accounting for more than 4/5th of the global fiber laser market. Key differentiation strategies include, acquisitions, regional expansion, and new product innovations.